The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The...
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The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The following production information is available: Year 2015 2016 2017 2018 2019 2020 Mugs Produced 1,150 1,600 1,100 2,100 1,500 1,300 Labor-Hours 850 975 800 1,150 950 875 Labor Cost $8,400 $9,000 $7,900 $10,700 $9,700 $9,900
a. Develop an equation for labor costs using the high-low method of cost estimation.
Fixed Costs no decimals
Variable Cost per Unit two decimals
b. Predict total costs for an annual usage of 3,500 labor hours.
Total Costs no decimals
The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The following production information is available: Year 2015 2016 2017 2018 2019 2020 Mugs Produced 1,150 1,600 1,100 2,100 1,500 1,300 Labor-Hours 850 975 800 1,150 950 875 Labor Cost $8,400 $9,000 $7,900 $10,700 $9,700 $9,900
a. Develop an equation for labor costs using the high-low method of cost estimation.
Fixed Costs no decimals
Variable Cost per Unit two decimals
b. Predict total costs for an annual usage of 3,500 labor hours.
Total Costs no decimals
| The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The following production information is available: | ||||||
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
| Mugs Produced | 1,150 | 1,600 | 1,100 | 2,100 | 1,500 | 1,300 |
| Labor-Hours | 850 | 975 | 800 | 1,150 | 950 | 875 |
| Labor Cost | $8,400 | $9,000 | $7,900 | $10,700 | $9,700 | $9,900 |
| a. Develop an equation for labor costs using the high-low method of cost estimation. |
Fixed Costs no decimals
Variable Cost per Unit two decimals
b. Predict total costs for an annual usage of 3,500 labor hours.
Total Costs no decimals
| The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The following production information is available: | ||||||
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
| Mugs Produced | 1,150 | 1,600 | 1,100 | 2,100 | 1,500 | 1,300 |
| Labor-Hours | 850 | 975 | 800 | 1,150 | 950 | 875 |
| Labor Cost | $8,400 | $9,000 | $7,900 | $10,700 | $9,700 | $9,900 |
| a. Develop an equation for labor costs using the high-low method of cost estimation. |
Fixed Costs no decimals
Variable Cost per Unit two decimals
b. Predict total costs for an annual usage of 3,500 labor hours.
Total Costs no decimals
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